To solve this problem, you can use the rule of 72. The rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. You divide 72 by the annual rate of return you receive on your investments.

Here, the rate of return is 10%. So, you divide 72 by 10, which equals 7.2.

Therefore, it will take approximately 7.2 years for the investment to double.

So, the closest answer is 7.3 years.

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To solve this problem, you can use the rule of 72. The rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. You divide 72 by the annual rate of return you receive on your investments.

Here, the rate of return is 10%. So, you divide 72 by 10, which equals 7.2.

Therefore, it will take approximately 7.2 years for the investment to double.

So, the closest answer is 7.3 years.

Knowee AI · Accepted Answer

To solve this problem, you can use the rule of 72. The rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. You divide 72 by the annual rate of return you receive on your investments.

Here, the rate of return is 10%. So, you divide 72 by 10, which equals 7.2.

Therefore, it will take approximately 7.2 years for the investment to double.

So, the closest answer is 7.3 years.

If $15 000 is invested at 10% per year, in approximately how many years will the investment double?Question 11Select one:7.3 years10.6 years14.8 years8.4 years

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